Healthcare Tech Company Shows Bullish Growth With 515 North State Lease
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The JV of Beacon Capital and Ivanhoé Cambridge/Callahan Capital Properties is inking a deal with Outcome Health for a 400k SF HQ lease at 515 North State St., according to Crain's Chicago Business. The deal is far and away the largest office lease of 2017 to date and the biggest announced HQ move since McDonald's announced that Sterling Bay is building its new HQ in the West Loop.
For Outcome Health, the lease is a strong sign the company is bullish on its future growth. The company occupies 66k SF at AMA Plaza and, in an ironic nod, is moving to the building the American Medical Association left two years ago for AMA Plaza.
The Beacon Capital-led JV is in the midst of a $20M capital improvement project to modernize the building that is now known as FiveOneFive. Outcome Health was repped by CBRE's Brad Serot and Cushman & Wakefield's Jack Keenan. Ownership was repped by Telos Group's Jack O'Brien and Jamey Dix.